Premier Brad Wall has re-iterated his wish for municipalities like Regina to dip into their reserve funding rather than raise taxes more than planned.
Urban municipalities are saying they’re facing upwards of a $36 million shortfall, thanks in most part to the cut to the grants-in-lieu program.
Wall, however, said Regina’s current mayor actually had his finger on the issue of using reserve money for a short term boost over a decade ago.
“In talks about operating deficits, they had an application for portions of the reserve, and I give credit to then councilor Fougere, who pointed that out when he was a city councilor that he was monitoring the size of the reserve at the time and said he thinks they were excessive and the commentary was maybe it was time to use that to mitigate against the tax hike,” Wall told reporters on Tuesday.
Regina currently has just shy of $250 million in its reserve budget.